Find out more about Papaya Global Employee Details Report ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app improves my payroll process, saving me a significant amount of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Staff member Website
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to worldwide employees regardless of the number of staff members in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local benefits service providers in every country, develop regional accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment costs dispersed per location, overall employment expenses per cycle and a lot more.
environments around the world I offered management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and services along with functioning as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually type of had a range of different functions on the supplier side and also on the vendor side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely uninspiring and I wish I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll also go over a recap which must leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more typical and handling them becomes more and more complicated Worldwide companies are seeking to discover Solutions and new ways to simplify processes especially from a payroll and cross-border payment perspective lots of organizations preserve separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep separate savings account often in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business enhance the episode complex procedures of
making payroll payments precisely efficiently securely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in adequate in one nation however when you're doing it globally it's next level and Beyond it becomes complex for a variety of factors most significantly policies compliance information security and banking rules then there are the sheer numbers they add additional complexity the international Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's often an overwhelming number of various systems leading to lengthy manual procedures and silos the variety of Combinations could be non-existent in big amounts and or very really basic there's no genuine consistency structure we're living in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on international payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of global companies have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors improperly interacted hires and terminations along with absence management and system configurations and after that when you round all of it off and the data is delivered to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're paying to staff members or otherwise that's a good question I constantly throw this back and say what is it what doesn't require to be included right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is definitely important however everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of progress with that it likewise too to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work better together than ever um I'm constantly surprised when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more essential to add to type of the level of intricacy there's a growing number of advantages being organ or being provided by companies across the world so again you're just wanting to include increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real obstacles or genuine difficult sort of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding details into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single biggest liability that any organization has from a cost point of view from an effect viewpoint on employees it is definitely crucial that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging effect on people's well-being and numerous other factors if individuals aren't paid uh I have actually constantly been impressed entering this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just see when things go wrong. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. Therefore, it is essential to guarantee that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first International Payments very first payroll payment service is a great initial step towards supplying a detailed payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account essential for international payroll are key factors in achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we know how how important a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as simple as possible for everybody that's associated with those procedures and likewise so envision sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and kind of shot to get back to everyone so moving on appearance why do companies select to main separate bank accounts there are businesses out there doing exactly this for particular countries and I have actually worked in an organization or many businesses doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for anybody where we do not need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I think people have got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it requires changing but ultimately individuals are extremely stuck to what they're familiar
with right um modification is a hard thing we all don't like change um so I think it's just kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having preserving numerous checking account however there's a big quantity of complexity chooses establishing a bank account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for individual people so the complexity is big however I believe the honest response is modification um people have not been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century or so there is a lot to track and this approach does position a number of challenges um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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